GM to buy back some preferred shares from UAW trust for US$3.2b

General Motors said on Monday it would buy back just under half of its preferred shares held by the United Auto Workers healthcare trust for about US$3.2 billion, essentially cutting company costs by financing the deal with lower-cost debt.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1316649/gm-buy-back-some-preferred-shares-uaw-trust-us32b